6 Reasons Financial Professionals Should Start Marketing

Financial professional typing

It’s no secret: financial professionals are in high demand as the millennial and GenZ generation starts to invest in their long-term future. But this influx of need doesn’t guarantee clients. You must be creative and strategic to stand out above competing financial advisors.

Among other things, you’ll need a marketing plan to attract the right customer to your business. At Concorde, we believe digital marketing is a powerful—and often undervalued—way to attract the clients you want. Not convinced? Here are six reasons that financial advisor marketing should be a top priority this year:

1. It Attracts New Clients

When you tap into digital marketing, you expand your reach for potential clientele. It’s not just who you can talk to; it’s who you can target online. Financial advisors can reach new clients via targeted social media ads, SEO blogs, and landing pages without ever leaving the city they live in.

Remember, it can be challenging for clients to find the perfect financial advisor. They want to hire you just as much as you want to work with them! And with the right marketing campaign, you can target the clientele that are already searching for your skills (and increase your chances of finding the perfect match).

Although financial professionals are in demand, the marketplace is a crowded one. The more you market, the larger your digital footprint becomes, and the more likely others will stumble across your content. And if your content (i.e., blogs, social posts, videos, or podcasts) become popular, readers and listeners may share them, bringing in even more prospects.

2. It Builds Rapport with Existing Clients

This tip may not be a surprise, but financial advisor marketing isn’t only helpful in attracting new clients. Some types of marketing, like content marketing, can be a great way to retain and connect with existing clients.

Financial advisors can build trust with current clients through educational blogs and other in-depth digital materials. When these clients see you regularly sharing valuable tips on personal finance, they’ll feel that you’re invested in their success and may be more likely to stay with you.

3. It Levels the Playing Field

Generally, it’s hard for small businesses to compete with billion-dollar ones. But a great marketing strategy can level the playing field; even a one-person show has a chance against big corporations.

If you know your target audience, you know what they’ll care about (and that’s not always the size of your business or your years of experience). With a great marketing campaign and strategic targeting, you can meet people where they are in a meaningful way—and beat out the big guys.

4. It Helps Expand Your Business

Growing your business is critical, especially if you’re a new financial advisor. The right marketing strategy can draw in and convert leads systematically, helping you expand your business quickly.

If you’re brand new to the game, you may be hesitant to spend money on marketing. Consider starting with low-cost tactics, like blog development or social media marketing. These strategies are more cost-effective than outbound marketing (and outsourcing is easy).

5. It Lets People Discover Your Message and Brand Voice

A consistent, distinctive brand voice will help you stand out from your competition and keep your mission in people’s minds. A trustworthy brand voice will also persuade would-be clients to trust you. High-quality prospects will want to start a business relationship with you when your message is consistent and clear— from your website design to the content you publish to how you answer the phone.

6. It Ensures Regulatory Compliance

A good marketing firm will be familiar with current laws and regulations and can give you tips for navigating the trickier parts of the industry. Running afoul of regulations, particularly in the financial industry, can lead to hefty fines and potential sanctions. It is helpful to have another eye on your business!

Need Ideas for Marketing Tactics?

As you can see, a strong marketing strategy is essential for anyone in the financial field.

If you’re looking for financial advisor marketing ideas and aren’t sure where to begin, download our free PDF on marketing for financial professionals. And if you want to learn more about Concorde, contact us today to learn how we support our financial professionals.